Ukraine-Russia Crisis

For all the concern about climate change – a worry he shares – JPMorgan Chase & Co.’s chief executive said the world’s current and foreseeable energy needs cannot be met without natural gas and oil. JPMorgan’s Jamie Dimon said Russia’s war in Ukraine amplified the significant role of both energy sources. He noted the surge…

For all the concern about climate change – a worry he shares – JPMorgan Chase & Co.’s chief executive said the world’s current and foreseeable energy needs cannot be met without natural gas and oil. JPMorgan’s Jamie Dimon said Russia’s war in Ukraine amplified the significant role of both energy sources. He noted the surge…

Commodity trader Trafigura Group Pte. Ltd. said Thursday the outage at the Freeport LNG terminal in Texas has removed much needed supply and “significant flexibility” from its portfolio, but said the scale of its operations have offset issues and helped it turn in record profits for 2022. Trafigura, a dominant trader in the global liquefied…

Bitter cold forecast for parts of Europe this week is set to bring the first major test of the winter heating season for the continent’s gas market and its robust storage inventories.  The UK’s National Balancing Point and the Dutch Title Transfer Facility (TTF) both gained about 3% on Tuesday and settled above $40/MMBtu. The…

Germany’s recently nationalized utility Uniper SE, previously one of Europe’s largest buyers of Russian pipeline natural gas, is moving to recover some of its monumental losses from Gazprom PJSC while it continues to divest from the country. Uniper management announced in Düsseldorf Wednesday the company is pursuing arbitration to recover damages from Gazprom it claims…

The European Commission (EC) has proposed a bloc-wide ceiling on natural gas prices linked to Europe’s benchmark in an effort to stanch massive financial volatility, potentially sending ripple effects across global gas markets. In a proposal outlined by the European Union’s (EU) executive branch Tuesday, the Commission could institute a “safety price” mechanism by the…

Nord Stream AG, operator of the Nord Stream 1 and Nord Stream 2 natural gas pipeline systems, has been granted access in the security zones around the ruptured lines.

Italy’s Eni SpA saw its natural gas sales drop by almost a quarter in the third quarter of 2022 compared to year-prior levels, but soaring commodity prices led it to another high profit period as it progresses efforts to replace Russian imports and optimize its LNG business. The firm’s natural gas sales plummeted during the…

Germany’s Uniper SE reported record losses from January to September as it was battered by Russia’s curtailment of natural gas volumes, but management said the firm is on a path to stability with LNG as a stepping stone. Uniper, Germany’s largest importer of Russian gas, has been navigating a geopolitical and economic crisis since before…